'Kwality Wall's to be demerged, listed this fiscal'

Hindustan Unilever Ltd (HUL) is pushing ahead with the demerger and listing of its 21,800 crore ice cream business, Kwality Wall's (India) Ltd (KWIL), as part of a global separation move by parent Unilever PLC.

- Suneera Tandon

The process is slated to conclude by Q4FY26, and it will give Kwality Wall’s India an independent identity, sharpen operational focus, and allow it to scale faster in the country’s fast-growing but underpenetrated ice cream market, Ritesh Tiwari, chief financial officer at HUL, told Mint in an interview.

The standalone entity, with brands such as Kwality Wall's, Cornetto, and Magnum, will continue to grow in double-digits over the coming years, he said.

Parent Unilever PLC had announced its demerger decision on 19 March 2024, citing that move will give Kwality Wall's India an independent identity and operational autonomy, in line with Unilever’s view that ice cream operates under a distinct model with limited synergies with other segments.